You'll be given a grace period to make your loan repayment. After that, you'll be charged late payment fee of P200 within the first 10 days, P400 for the next 10 days, and P600 after 20 days. Collection efforts will begin for loans that are not paid within 20 days.
We urge you to repay your loan on time to avoid further complications, and to improve your chance of approval for future loans. Please be advised that your delinquency will affect your credit standing in general, depending on the severity, which includes submission of your name to credit bureaus as due diligence.
pera247 Lending Corporation is a duly registered lending company under SEC (SEC Registration No.: CS201734339 with Certificate of Authority No.: 2582)
pera247 Lending Corporation adheres to the strictest of standards in responsible lending as governed by its board of directors, including compliance with: 1) registration and certification with the National Data Privacy Commission (No.: PIC-001-172-2019); 2) Truth-in-Lending Act; 3) Fair Collection Practices; 4) Anti-Money Laundering; and 5) membership in Fintech Protects Community of Practice by The Smart Campaign, an initiative of the Center for Financial Inclusion (CFI) at Accion.